Corporate executives for increased investment in renewable energy

Around eight in every ten corporate executives believe the country should significantly invest in renewable energy for a sustainable future.

At a spot online poll in the capital on Saturday, they supported a leapfrogging towards green energy in response to the ongoing energy crisis, instead of voting for deeper exploration of local natural gas, buying a lot of fuel from the international spot markets, or stronger efforts for long term contracts with oil-gas exporter nations.

Over 200 executives of the country's leading corporates voted at the Sixth Leadership Summit organised by the Bangladesh Brand Forum. This year's theme of the summit was "Transformative Humane Leadership during Extraordinary Times".

Sustainability is not a business choice, instead, it is a must for the businesses, said Miran Ali, vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) while speaking at a panel discussion.

Bangladesh, already having seven of the world's top 10 green factory initiatives, is doing better in achieving sustainable development goals than India, said Asia Marketing Federation President Dr Syed Ferhat Anwar, professor of the Institute of Business Administration at the University of Dhaka. 

In keynote and panel discussion moderation, he emphasised constant learning and adapting to changes as the path to sustainability. 

Alongside emphasising the need for reducing costs and disruptions due to the energy and supply chain problems, Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka's President Md Saiful Islam said at least 10% of the cost for fossil fuel should be invested towards renewable energy.

The demographic dividend Bangladesh has been counting on will not be there in the next decade and the country should act smart for reaching its 2041 goals including that to be a developed nation, he said, suggesting for filling the skill gaps, best connecting the local skills with the international markets and investors. 

The country is remitting out around $6 billion a year due to a lack of technical and managerial skills among mid and senior-level professionals in a wide range of industries. 

IT is the next sector that can surpass apparel exports by 2030, said Russel T Ahmed, president of the Bangladesh Association of Software and Information Services. 

Elaborating Bangladeshi firms' and youth's proven strength in the fields of semiconductors, the internet of things, and other common services being preferred by the world's outsourcing employers he said it is high time amid the crisis that the country invests heavily in IT, automation for the sake of higher productivity and efficiency. 

Industry, academia, and the government should work in line, he said, adding that the global ITC buyers are looking for their next sourcing destination and Bangladesh has the full potential to grab the opportunity. 

The day-long summit, held at Hotel Le Méridien Dhaka, gathered leaders and experts from various industries from home and abroad who shared their experiences and knowledge through distinguished panel discussions and keynote sessions. 

Having the vision at the core, the speakers branched out, discussing the challenges and complexities of leadership, sustainable business growth, corporate governance, and organisation culture with aspiring audiences.  

In opening remarks of the summit Bangladesh Brand Forum Managing Director Shariful Islam said, "We feel the urgency to focus on developing senior corporate leaders so that we can pursue and achieve the nation's goal for 2041."  

The Four Panel Discussions featured pertinent topics including "Future of Bangladesh", "Leaders Role in Creating Organisation Culture", "Driving Creativity and Originality within Future Employees", and "Why Corporate Governance is Key for Sustained Business Growth".